Reuters logo
BRIEF-Berkshire Hathaway says intends to sell 1.9 mln Wells Fargo shares in near future
April 12, 2017 / 9:20 PM / 7 months ago

BRIEF-Berkshire Hathaway says intends to sell 1.9 mln Wells Fargo shares in near future

April 12 (Reuters) - Berkshire Hathaway Inc:

* Press release - Berkshire Hathaway Inc. News release

* Berkshire Hathaway Inc says in near future, intend to sell 1.9 million shares of Wells Fargo in addition to shares being reported on Wednesday’s form 4

* Says the sales of Wells Fargo shares are not being made because of investment or valuation considerations

* Berkshire Hathaway says Wells Fargo stock sales “solely motivated by desire to return to a percentage ownership below 10 pct notification threshold”

* Berkshire Hathaway - commitments required of co by federal reserve to retain ownership of 10 pct or more of Wells Fargo’s outstanding common stock would materially restrict commercial activity with Wells Fargo

* Berkshire Hathaway - on April 7, informed Federal Reserve we were withdrawing filing and that we intend to reduce ownership in Wells Fargo common stock below 10 pct within 60 trading days

* Berkshire Hathaway - will file a form 4 with SEC reporting sale of 7.1 million shares of Wells Fargo common stock during period between April 10 and April 12 Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below